Numbers of attachments in habitual residences reached 2,543 during the first three months. This figure marks the lowest quarterly level since 2020, reflecting a drop of 25.3 percent from the same period in 2022 and 16.6 percent from the previous quarter, according to foreclosure statistics published on Friday by the National Institute of Statistics INE. The data reveal a clear cooling in lien activity as the market moves through the early part of the year, underscoring a shift in the pace at which lien cases are opened and registered in the Property Registers. The INE emphasizes that not every lien proceeds to eviction or removal of the owner, highlighting the complexity of outcomes that can follow a lien filing per INE. INE.
The main aim of this quarterly statistic is to present, in a consistent snapshot, the number of lien certificates initiated and recorded during the reference quarter in the Property Registers. It is important to note that a lien does not automatically translate into immediate eviction or displacement; many cases are resolved through negotiations, legal adjustments, or other mechanisms that prevent final removal per INE. The quarterly series therefore captures the activity surrounding lien claims, while leaving room for the varied real-world resolutions that may occur after a lien is issued per INE.
In the first quarter, 5,168 foreclosures were initiated, which is 39.4 percent lower than the same period in 2022 and 18.8 percent lower than the last quarter of 2022. Of these, 4,939 involved urban properties, including homes, while 229 applied to rural farms. This breakdown highlights a notable decline in actions affecting urban real estate, contrasting with the still-dominant share of urban property cases within total foreclosures reported for the quarter per INE.
Foreclosures on urban properties decreased by 39.7 percent compared with the previous year and fell 18.1 percent from the first quarter of 2022 to the first quarter of the current year, reflecting a broad slowdown in urban lien activity. Relative to the preceding quarter, urban foreclosures also showed a drop, illustrating a continuing moderation in demand for repossession through legal channels per INE. On the urban farms segment, 3,693 foreclosures were recorded as affecting homes, a figure that stood 31.1 percent below the first quarter of 2022 and 11.2 percent lower than the previous quarter, signaling a softer pace in agricultural property-related lien actions per INE.